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Yahoo
2 hours ago
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What Trump tariff revenues mean for the US deficit
Strategas Securities managing director of policy research Jeannette Lowe joins the Morning Brief team for a conversation on the long-term view on revenue from President Trump's tariffs and what it could mean for the US deficit as lawmakers debate the next spending bill package. Also catch Lowe weigh in on the latest tariff drama in this clip here. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
Yahoo
2 hours ago
- Business
- Yahoo
What Trump tariff revenues mean for the US deficit
Strategas Securities managing director of policy research Jeannette Lowe joins the Morning Brief team for a conversation on the long-term view on revenue from President Trump's tariffs and what it could mean for the US deficit as lawmakers debate the next spending bill package. Also catch Lowe weigh in on the latest tariff drama in this clip here. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
How retailers are navigating tariff uncertainty: Former Gap CEO
Retailers are "scared to hell" about the tariff landscape, Mickey Drexler, former CEO of Gap Inc. (GAP) and former chairman of J. Crew Group, tells Madison Mills and Brad Smith on Morning Brief. Watch the video above to hear more from the retail veteran. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Nasdaq, stocks push higher after Nvidia results, tariff ruling
US stocks (^DJI, ^IXIC, ^GSPC) are leading the day off in positive territory, the Nasdaq Composite pushing higher by over 1.4% after the market open. The Morning Brief's Brad Smith monitors the morning's early market and sector action coming off of Nvidia's (NVDA) first quarter earnings results released on Wednesday and a US trade court ruling on several of President Trump's sweeping tariff policies. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Take a look at the Dow Jones Industrial Average. It's up right now by about two tenths of a percent. The Nasdaq Composite, you're seeing that open up higher by about 1.4%. We'll dive into what's driving that here, Nvidia. Uh, S&P 500, you're also seeing that higher by about eight tenths of a percent. All of the major averages also seeing a little bit of a boost coming off of the uh Federal Trade Court ruling that the tariffs that were put in place and citing some of the international emergency uh the powers act that President Trump tried to invoke, uh they said not yet, uh and ultimately that in the ruling there, which is set to be appealed, that ultimately is moving some of the major averages higher here and some of the broader market sentiment factoring that in on the day. Let's take a look at technology. XLK, you're seeing that jump by about 1.3% here on the day. And then additionally, pulling up the caboose, consumer staples right now. That's lower by about three tenths of a percent. One of the safety trades, safe haven asset right there, or trade pocket of the market, however you want to call it, call it down today. Nvidia, after earnings, you're seeing that rip to the upside by about five and a half percent. We're going to put a longer-term chart on this just so you can see exactly how we've been moving year to date, and we are now back in the positive territory solidly year to date by about 5.9%. We'll continue to watch that very closely here. Of course, there was a lot of room that we had to ultimately and ground that we had to make up. But post earnings, we've seen exactly that happen here. And I'm going to take a look just quickly at a one-year chart. There we go. One year past 52 weeks, and you're seeing us not quite hit up on that top, but uh we are getting close to those levels here for Nvidia. And then additionally, taking a look at some of the other MAG 7s on the day, they're all higher across the board. I'll put this on an equal view for the Nasdaq 100, far more gainers than laggards. However, bringing up the caboose, the brand of the green siren, Starbucks. You're seeing that pull back just a little bit. It's down by about 1.1%. Somebody get it some coffee, maybe it'll know how to race to the upside. And for the Dow Jones Industrial Average Dow 30 components, we've got those mixed here on the day, but more green, it looks like than red CRM, Salesforce post earnings. We're going to talk about that in a hot second. That is pulling up the caboose down by about 6%. Sign in to access your portfolio
Yahoo
3 days ago
- Business
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US deficit is an 'economic stabilizer' amid uncertainty
Despite worries about the impact of President Trump's changing tariff policies, the US economy is chugging along. Inflation softened in April, fresh data shows, yet soft data about consumer sentiment remains low. Smead Capital Management CEO Cole Smead says it's the US's deficit that is supporting the economy despite spikes in uncertainty. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Tariff volatility is back on Wall Street. President Trump lashing out against China this morning, saying China has violated its agreement with the US. Meantime, Treasury Secretary Scott Beston saying talks with China are quote, a bit stalled. His comments coming after a federal appeals court offered Trump a temporary reprieve from that ruling that did deem his tariffs illegal. Joining us now to break down where to ride out the trade-induced volatility is Cole Smead. He is CEO of Smead Capital Management, which oversees more than $7 billion in assets under management. Cole, it's great to have you in the studio. Thank you for being here. We were just talking about this morning's inflation data indicating that there is a little bit more progress when it comes to prices than we saw in the Consumer Price Index print, but the tariffs still remain a headwind, and that certainly played out in this morning's economic data. How does that impact your investments going forward? Yeah. Um, well, add one more thing, you had consumer confidence hit a low. A low that we saw in 2020, a low that we saw in '09, and also 2011, okay? And I say that because, um, when you put all these things together, I think it's really incredible how the US economy has functioned despite high levels of uncertainty, particularly for business spending, okay? Um, if you go talk to business owners right now, they're pretty scared about the whole tariff situation. I was in an event, someone was, uh, you know, makes guitars for a living, and they were just freaking out. Um, go talk to people on Main Street, and they're not like at soccer practice being like, you know, what's going on today with tariffs? Um, and I say that because it shows you the difference between business. Are they not though? I mean, consumer sentiment numbers have been plummeting. In New York, yes. But in Main Street America, no. That's the best evidence. What is your what is your evidence of that? Are you talking to people across America? Uh, well, I I just mean if you just go talk to people day-to-day, like I I run into investors, I run into people in the media business, and I run into people in, you know, business owners. And again, that's a big idea for them, especially if you import or export your goods, okay? Um, when it comes to day-to-day beyond that, um, that's just not showing up. I'll give you a picture of this. Um, what are we spending in deficit? It's 7%. We normally only spend that. If you look back at the history, we did it, big deficit in World War I, big deficit in World War II. But we quickly tightened up our budget to get back to a much lower level of deficit or none at all. We have not tightened our belt at all. And what that's doing is it's providing this huge economic stabilizer and buffer in the economy. So this is a lot of uncertainty to pour onto the economy in, say, a 60-day stretch. And yet at the same time, economy's not falling off. Consumers' spending is not falling off. Why not? And the answer is because it's really tough to stop an economy when you're spending this much in deficit. And no one's really saying that, by the way. But well, to the very report that you just mentioned, the Consumer Confidence, they actually wrote in and said the tariffs are still top of mind for consumers' minds. That was in the write-in responses. The first mentioned in that stanza as well. So to say that they're not talking about it is incorrect based on that same report you're citing. Correct. Correct. But if you look at it, the spending though isn't going negative. What you're saying is the difference between the soft and the hard data, it sounds like. Correct. When also, that's that soft data is bad data to invest based on. So at low points in the data, what should you expect? That the economy is going to pick up. Because I said 9, 11, 20 and today. And so I would expect the economy picks up because when those people survey, they're telling you, like the weatherman, hey, it's sunny today. It's like, why already know that? Um, they're telling you that there's uncertainty. But the reality is you can't invest based on that. Well, I think we're going to wake up in 6 to 12 months. We're going to find out is we did not slow the US economy because until we slow our deficit spending, you can't slow it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
